FSTAX vs. ^GSPC

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity Advisor Strategic Income Fund Class A (FSTAX) and S&P 500 Index (^GSPC).

FSTAX is managed by Fidelity. It was launched on Sep 3, 1996.

Performance

FSTAX vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Strategic Income Fund Class A (FSTAX) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

FSTAX vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSTAX Fidelity Advisor Strategic Income Fund Class A	-0.88%	8.68%	4.93%	8.82%	-11.98%	3.22%	7.21%	10.74%	-2.94%	7.63%
^GSPC S&P 500 Index	-4.63%	16.39%	23.31%	24.23%	-19.44%	26.89%	16.26%	28.88%	-6.24%	19.42%

Returns By Period

In the year-to-date period, FSTAX achieves a -0.88% return, which is significantly higher than ^GSPC's -4.63% return. Over the past 10 years, FSTAX has underperformed ^GSPC with an annualized return of 3.84%, while ^GSPC has yielded a comparatively higher 12.16% annualized return.

FSTAX

• 1D: 0.00%
• 1M: -2.65%
• YTD: -0.88%
• 6M: 0.34%
• 1Y: 6.86%
• 3Y*: 6.09%
• 5Y*: 2.33%
• 10Y*: 3.84%

^GSPC

• 1D: 2.91%
• 1M: -5.09%
• YTD: -4.63%
• 6M: -2.39%
• 1Y: 16.33%
• 3Y*: 16.69%
• 5Y*: 10.18%
• 10Y*: 12.16%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

FSTAX vs. ^GSPC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FSTAX

FSTAX Risk / Return Rank: 92
FSTAX Sharpe Ratio Rank: 93
FSTAX Sortino Ratio Rank: 93
FSTAX Omega Ratio Rank: 90
FSTAX Calmar Ratio Rank: 92
FSTAX Martin Ratio Rank: 91

^GSPC

^GSPC Risk / Return Rank: 74
^GSPC Sharpe Ratio Rank: 69
^GSPC Sortino Ratio Rank: 68
^GSPC Omega Ratio Rank: 76
^GSPC Calmar Ratio Rank: 73
^GSPC Martin Ratio Rank: 85

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FSTAX vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Strategic Income Fund Class A (FSTAX) and S&P 500 Index (^GSPC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	FSTAX	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	2.03	0.90	+1.14
Sortino ratio Return per unit of downside risk	2.82	1.39	+1.43
Omega ratio Gain probability vs. loss probability	1.40	1.21	+0.19
Calmar ratio Return relative to maximum drawdown	2.71	1.40	+1.31
Martin ratio Return relative to average drawdown	10.69	6.61	+4.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FSTAX vs. ^GSPC - Sharpe Ratio Comparison

The current FSTAX Sharpe Ratio is 2.03, which is higher than the ^GSPC Sharpe Ratio of 0.90. The chart below compares the historical Sharpe Ratios of FSTAX and ^GSPC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FSTAX	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.03	0.90	+1.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	0.61	-0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.88	0.68	+0.20
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.46	+0.02

Correlation

The correlation between FSTAX and ^GSPC is 0.28, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Drawdowns

FSTAX vs. ^GSPC - Drawdown Comparison

The maximum FSTAX drawdown since its inception was -23.29%, smaller than the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for FSTAX and ^GSPC.

Drawdown Indicators

	FSTAX	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-23.29%	-56.78%	+33.49%
Max Drawdown (1Y) Largest decline over 1 year	-2.65%	-12.14%	+9.49%
Max Drawdown (5Y) Largest decline over 5 years	-16.18%	-25.43%	+9.25%
Max Drawdown (10Y) Largest decline over 10 years	-16.18%	-33.92%	+17.74%
Current Drawdown Current decline from peak	-2.65%	-6.45%	+3.80%
Average Drawdown Average peak-to-trough decline	-4.86%	-10.75%	+5.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.67%	2.57%	-1.90%

Volatility

FSTAX vs. ^GSPC - Volatility Comparison

The current volatility for Fidelity Advisor Strategic Income Fund Class A (FSTAX) is 1.53%, while S&P 500 Index (^GSPC) has a volatility of 5.34%. This indicates that FSTAX experiences smaller price fluctuations and is considered to be less risky than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSTAX	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.53%	5.34%	-3.81%
Volatility (6M) Calculated over the trailing 6-month period	2.38%	9.54%	-7.16%
Volatility (1Y) Calculated over the trailing 1-year period	3.57%	18.33%	-14.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.42%	16.91%	-12.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.40%	18.05%	-13.65%